CFTC Warns Prediction Markets Over Faulty Filings and Market Abuse Risks

·1 views

The U.S. Commodity Futures Trading Commission (CFTC) has raised concerns about compliance practices among prediction market platforms such as Kalshi and Polymarket. The regulator indicated that these platforms are developing problematic habits in their regulatory filings. According to the CFTC, these compliance shortcomings could create incentives that artificially boost trading activity. The agency warned that such practices may open the door to potential market abuse. The CFTC's remarks signal increased regulatory scrutiny over the fast-growing prediction markets industry.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Securitize shares drop 20% as tokenization revenue misses in debut earnings

Securitize saw its stock fall 20% following the release of its first earnings report since going public. Despite tokenized assets reaching a record high and trading activity increasing, the company's revenue fell short of expectations. The disappointing results were driven by tokenization revenue underperforming projections. This marked a significant setback for the firm as it faces scrutiny from public market investors for the first time.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Zerohash's U.S. Trust Bank Application Rejected, Firm Plans to Refile

Zerohash, a crypto infrastructure firm that serves as the backend provider for Morgan Stanley's E*Trade platform, has had its application to become a U.S. trust bank turned down by regulators. The company plays a key role in handling crypto operations for the financial giant's retail brokerage arm. Despite the setback, Zerohash has indicated it intends to refile its application. The firm expressed hope for a quicker resolution in its next attempt at obtaining the trust bank charter.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Goldman Sachs acquires NEOS for $2.25B to expand bitcoin income ETF business

Goldman Sachs has agreed to acquire NEOS, a bitcoin income ETF provider, in a deal valued at $2.25 billion. The acquisition will significantly expand Goldman's derivatives-based ETF platform, bringing its total ETF assets to approximately $130 billion. The move positions Goldman Sachs as a stronger competitor in the bitcoin income ETF space. According to analysts, the deal directly targets BlackRock's rival BITA fund. The buyout signals Goldman's growing ambition to capture a larger share of the rapidly expanding crypto ETF market.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Wintermute targets $1B AI expansion to diversify beyond crypto by 2027

Crypto market maker Wintermute is planning a $1 billion push into artificial intelligence to expand beyond digital assets. The firm aims to grow its non-crypto revenue share from 10% currently to over 50% by 2027. This strategic shift reflects Wintermute's ambition to diversify its business across broader financial markets. The expansion signals a growing trend of crypto-native firms seeking revenue streams outside the volatile digital asset space.

0 comments Read more at CoinDesk